LVMH publishes 2022 Social and Environmental Responsibility Report
In the third edition of its Social and Environmental Responsibility Report, LVMH details the strategy deployed in 2022 and the Group’s many corporate responsibility initiatives. Beyond its financial performance, LVMH is also exemplary in its commitments to society, the environment and culture.
“What would the point be of sparking dreams thanks to magnificent products if they do not meet the highest standards of social and environmental responsibility?” asks Bernard Arnault, Chairman and Chief Executive Officer of LVMH in his introductory message to the report. After a strong recovery in business in 2022, confirmed by record results that once again attest to the robust performance of its business model, LVMH continues to place priority on its commitments to society, the environment and culture.
“Our success is only valuable if it is virtuous,” Mr. Arnault continues. “It can only be sustainable if it is just. And it will be all the more brilliant if it benefits everyone – beneficial for us and for our employees, for our customers of course, for our stakeholders, and above all for our future. This is about acting for the common good and ensuring that our success has positive impact beyond our immediate sphere.”
LVMH currently counts nearly 200,000 employees in 80 countries. “Our workforce has reached record levels,” says Chantal Gaemperle, LVMH Executive Vice President Human Resources & Synergies in her editorial. “Our talented people have been more decisive than ever in guiding the recovery in business. Our people make all the difference, they are at the very heart of our performance and our commitment.”
The Group’s social responsibility focus was marked by the rollout of a global Diversity & Inclusion roadmap in 2022. Among the objectives of this action plan are reaching 50% women in key positions, along with equal pay and increasing the proportion of people with disabilities to 2% of the global workforce. These objectives are more important than ever as LVMH welcomes thousands of new employees each year, including 39,000 early career professionals in 2022. With the first You and Me tour, the Métiers d’Excellence program supported this recruiting momentum last year, which is essential in order to pass on the unique savoir-faire that underpins the enduring success of the Group’s Maisons. The LVMH Métiers d’Excellence jobs and recruiting fair drew thousands of future talents, sparking interest among young generations in careers in craft, creative and customer experience professions. The LVMH Group has some 3,500 jobs and training opportunities available.
LVMH was equally active in advancing its environmental responsibility commitments, led by Antoine Arnault, LVMH Image & Environment. Concrete results from the LIFE 360 program reflect the active engagement of the entire Group and its Maisons. An energy reduction plan was introduced to cut the Group’s energy consumption by 10% between October 2022 and October 2023, reduce greenhouse gas emissions from energy consumption by 11%, and cut scope 3 emissions by 15%.
The Group strives to “change conceptions of beauty to make sustainability synonymous with desirability, to make a circular economy model essential, and to foster a new relationship between nature and the living world.”
Initiatives to nurture and protect biodiversity – presented during COP 15 – accelerated throughout 2022, notably greater cooperation between LVMH and UNESCO around projects to mitigate the impact of climate change on biodiversity and improve the resilience of ecosystems. The Group also multiplied innovative research initiatives. Agroforestry programs, projects to develop keratin-based fibers, recycling and upcycling to boost creative circularity, for example, all help drive continuous progress towards greater sustainability. LVMH received a triple A rating from the CDP, a strong signal that encourages to reach even further.
Lastly, LVMH’s social responsibility engagement extends to support for artistic creativity and broad access to culture. The Fondation Louis Vuitton organized three exceptional exhibitions dedicated to the Morozov Collection, to Simon Hantaï and to Monet and Mitchell, welcoming millions of visitors from France and around the world. This success is emblematic of LVMH’s mission of promoting culture and making it widely available to spark dreams.